Princeton Energy Group's Ikehu Molokai plan for phase one, which is expected to begin by December 2016, involves a solar energy farm paired with a battery storage system near Maui Electric Co.’s existing power plant. Molokai could become 50 percent renewable by 2017 through the adoption of the first phase.

Then in phase two, which is anticipated to run from 2017 to 2018, the goal is to achieve 100 percent renewable energy, Taber said. This phase will include more renewable energy, electric vehicle charging stations and energy-efficiency measures to lower electric bills.

Ikehu Molokai has asked Maui Electric Co. for a commercial agreement in time to complete construction in 2016, which will enable the project to utilize the 30 percent federal tax credits that would lower the cost for consumers, the developer said.

The project will be built on Molokai Ranch land with Ikehu Molokai as its tenant.

The Ikehu Molokai team, which is paying for the infrastructure and start-up costs, includes Princeton Energy, Half Moon Ventures and PNC Bank.

Maui Mayor Alan Arakawa told PBN that when he said in his speech earlier this year at the Maui Energy Conference that he wants Maui to be 100 percent renewable, he meant that he wants to do this not just on the Valley Isle but the entire county, including Lanai and Molokai.

“Molokai has stepped up to the challenge, with Princeton Energy Group heading up the plan,” he said.